Drawdown on Equity Facility and Bridge Loan
No summary for this filing – the full text is below.
Select text to share a quote on X · sign in to keep highlights & notes in your KRPZ notes
Kropz Plc (AIM: KRPZ), an emerging African phosphate producer and developer, announced on 14 November 2022 that it had entered into a new conditional convertible equity facility of up to ZAR 550 million ("ZAR 550 Million Equity Facility") (approximately US$ 31.6 million), with ARC Fund ("ARC"), the Company's major shareholder.
As announced on 14 September 2023, Kropz had entered into new bridge loan facilities of ZAR 250 million (the "Bridge Loan") with ARC to meet immediate cash requirements at Kropz Elandsfontein (Pty) Ltd.
Final drawdowns on the Bridge Loan for ZAR 20 million and ZAR 7.5 million on the ZAR 550 Million Equity Facility have now been made.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.